From CSO (Central Statistics Office) data till December 2022
The national Residential Property Price Index (RPPI) increased by 7.8% in the 12 months to December 2022, with prices in Dublin are rising by 6% and prices outside Dublin up by 9.3%.
In December 2022, 5,213 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 0.8% compared with the 5,170 purchases in December 2021.
The median price of a dwelling purchased in the 12 months to December 2022 was €305,000.
The lowest median price for a house in the 12 months to December 2022 was €152,000 in Longford, while the highest median price was €625,000 in Dún Laoghaire-Rathdown.
- The overall trends of residential property price keep increasing, although the increase rate has been slowing down a little from the previous figure.
From Property Price Register data till January 2023
- 2945 sold properties have been registered for 2023-1
- This is -55.09% change from last month
- This is -18.76% change from the same month of last year
- The mean price of sold properties is 345306.9 EURO for 2023-1
- This is -17.74% change from last month
- This is 2.96% change from the same month of last year
- The median price of sold properties is 295000.0 EURO for 2023-1
- This is -1.52% change from last month
- This is 6.88% change from the same month of last year
The top-5 most expensive sold properties are
- 8 MARLBOROUGH RD, GLENAGEARY, DUBLIN (6500000 EURO)
- GRENAGH, AVOCA AVE, BLACKROCK (5200000 EURO)
- 12-24 PARK GREEN, COULTER PLACE, DUNDALK (4149289 EURO)
- HILLSIDE, THE HILL, MALAHIDE (3665500 EURO)
- 59 MERRION RD, BALLSBRIDGE, DUBLIN 4 (3600000 EURO)
From the number of properties available on Daft.ie we can have an idea about how many properties are available on the market at the moment.
- The number of properties available for purchase now (~17000) is larger than that one of April last year.
- It is likely to have more properties from April this year and hopefully towards the level before pandemic.
- The ECB interest rate has been increased during the last year several times, and is record high. And it is likely to be increased again, which might hinder the increase of property prices
- A total of 3,635 mortgages were approved in December 2022 – some 1,789 were for FTBs (49.2%) of total volume) while mover purchasers accounted for 798 (22.0%).
- The number of mortgages approved in December fell by 33.1% month-on-month and by 5.7% year-on-year.
- Mortgages approved in December 2022 were valued at €996 million – of which FTBs accounted for €485 million (48.7%) and €255 million by mover purchasers (25.6%).
- The value of mortgage approvals fell by 33.5% month-on-month and 1.5% year-on-year.
- Year-on-year approval volumes rose by 9.3% to 58,276 while values rose by 17.9% to €15.9 billion.
- Population in Ireland has been increased a lot, and now it is over 5 million. This causes the shortage of residential properties and the increase of the property price.